S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
A.M. Best assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of "a-" to Delta Dental of Kansas Inc. The outlook is stable.
The ratings reflect Delta Dental of Kansas' balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
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A.M. Best affirmed the financial strength ratings of A+ (Superior) and the long-term issuer credit ratings of "aa-" of Jackson National Life Insurance Co., its wholly owned subsidiary Jackson National Life Insurance Co. of New York, and its direct parent Brooke Life Insurance Co. The outlook is stable.
The ratings reflect the group's balance sheet strength, which A.M. Best categorizes as adequate, as well as its strong operating performance, favorable business profile and very strong enterprise risk management. The affirmations also reflect the strength and support provided by the parent, Prudential PLC.
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A.M. Best affirmed the long-term issuer credit rating of "a-" of MetLife Inc. and the financial strength ratings of A+ (Superior) and the long-term issuer credit ratings of "aa-" of Metropolitan Life Insurance Co. and Metropolitan Tower Life Insurance Co. The outlook is stable.
Concurrently, A.M. Best affirmed the financial strength ratings of A and the long-term issuer credit ratings of "a+" of MetLife's property and casualty companies, consisting of Metropolitan Property and Casualty Insurance Co. and seven fully reinsured subsidiaries, as well as Metropolitan Group Property and Casualty Insurance Co. The outlook is positive.
The ratings of Metropolitan Life Insurance and Metropolitan Tower Life Insurance reflect their balance sheet strength, which A.M. Best categorizes as strong, as well as their strong operating performance, very favorable business profiles and appropriate enterprise risk management.
The affirmations reflect the organization's strong, defensible market position in its core lines of business and the diversity of its products and geographic markets, as well as a reduced product risk profile.
The ratings of property and casualty companies reflect their balance sheet strength, which A.M. Best categorizes as very strong, as well as their adequate operating performance, favorable business profiles and appropriate enterprise risk management.
The ratings of P&C companies recognize the group's strong risk-adjusted capitalization, favorable operating performance and a multiple-channel distribution network that includes MetLife's products and programs, as well as extensive market expertise.
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A.M. Best affirmed the financial strength ratings of A (Excellent) and the long-term issuer credit ratings of "a" of Spirit Insurance Co. and Radius Insurance Co. The outlook is stable.
The ratings reflect the companies' balance sheet strength, which A.M. Best categorizes as very strong, as well as their adequate operating performance, neutral business profile and appropriate enterprise risk management.
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Moody's affirmed the Aa2 insurance financial strength ratings of Travelers Cos. Inc.'s property and casualty insurance subsidiaries.
The subsidiaries are American Equity Specialty Insurance Co., Automobile Insurance Co. of Hartford Connecticut, Charter Oak Fire Insurance Co., Discover Property & Casualty Insurance Co., Discover Specialty Insurance Co., Farmington Casualty Co., Fidelity and Guaranty Insurance Underwriters Inc., Gulf Underwriters Insurance Co., Northfield Insurance Co., Northland Casualty Co., Northland Insurance Co., Phoenix Insurance Co., Select Insurance Co., St. Paul Fire & Marine Insurance Co., St. Paul Guardian Insurance Co., St. Paul Mercury Insurance Co., St. Paul Protective Insurance Co., St. Paul Surplus Lines Insurance Co., Standard Fire Insurance Co., Travelers Home and Marine Insurance Co., TravCo Insurance Co., Travelers Casualty and Surety Co., Travelers Casualty and Surety Co. of America, Travelers Casualty and Surety Co. of Europe Ltd., Travelers Casualty Co., Travelers Casualty Co. of Connecticut, Travelers Casualty Insurance Co. of America, Travelers Commercial Casualty Co., Travelers Commercial Insurance Co., Travelers Constitution State Insurance Co., Travelers Excess & Surplus Lines Co., Travelers Indemnity Co., Travelers Indemnity Co. of America, Travelers Indemnity Co. of Connecticut, Travelers Personal Insurance Co., Travelers Personal Security Insurance Co., Travelers Property Casualty Co. of America, Travelers Property Casualty Insurance Co. and United States Fidelity and Guaranty Co.
The outlook remains stable.
The affirmation of Travelers' ratings reflect the group's leading market position in U.S. commercial, personal and specialty insurance lines of business. The ratings action also recognizes the group's strong position in the independent agency distribution channel serving middle-market and small commercial customers.
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S&P Global Ratings affirmed the A insurer financial strength and long-term issuer credit ratings of Validus Reinsurance Ltd. and Validus Reinsurance (Switzerland) Ltd.
The outlook is stable, reflecting the rating agency's expectation that the group's capital adequacy will remain at the AAA confidence level despite periods of heightened catastrophe activity.
The ratings on Validus Re reflect fundamental stand-alone characteristics, with S&P Global Ratings noting that Validus Re is a strategically important entity to American International Group Inc. but that it operates "more autonomously" from the group.
Asia-Pacific
A.M. Best affirmed the financial strength rating of A (Excellent) and the long-term issuer credit rating of "a" of Lonpac Insurance Bhd. The outlook is stable.
The ratings reflect Lonpac Insurance's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
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